Image credit: Catoca (Facebook)
Angola produced about 8 million carats last year down from 9.4 million carats in 2019 due to the global COVID-19 pandemic.
“We are committed to transforming the Luaxe deposit in 2022 into a structured and organised conventional mine, expecting production of about 5.7 million carats in 2023,” Angola’s mineral resources and petroleum minister Diamantino Azevedo was quoted by Reuters.
“[Despite the] unfavourable situation due to the lockdowns caused by the COVID-19 pandemic, we are working to accelerate the start of production in Luaxe.”
Alrosa and Catoca discovered the Luaxe pipe in 2013. Catoca, in which Alrosa owns 41%, currently holds a 50.5% stake in Luaxe. Endiama and Alrosa each also hold another 8% in Luaxe.
“Although Luaxe is an attractive project for any investor, its shareholding structure has already been established,” said Azevedo.
Meanwhile, the minister said that the state-owned diamond company Endiama had been instructed to negotiate with De Beers and Rio Tinto to invest in the local diamond sector.
“I confirm ... the latest information we have is that the negotiations are going at a good pace,” he said.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
